China's tax deferral policy boosts foreign reinvestment in 2024

Foreign reinvestment in China benefiting from a preferential policy to temporarily exempt certain profits obtained by overseas investors from withholding income tax have seen rapid growth in 2024, data from the State Taxation Administration revealed on Thursday.

The total value of reinvestment reached 162.28 billion yuan (about 22.63 billion U.S. dollars) in 2024, a 15 percent increase from the previous year, hitting a record high.

China has previously deferred withholding income tax on profits that were distributed to overseas investors by resident enterprises in the country and directly reinvested in domestic projects and sectors.

Source：Xinhua

China company registration, China company setup, China company formation, Xiamen company registration, Xiamen company registration agent, Xiamen company setup, Xiamen company registry, Xiamen company registry agent, Xiamen company formation, Xiamen bookkeeping service, Xiamen accounting service, Xiamen tax advisory, Xiamen financial consultant, Xiamen audit, Xiamen CPA, Xiamen CPA firm, Xiamen visa service, Xiamen visa application, Xiamen foreigner's work visa service……Please visit Xiamen R&F Consulting at http://www.lc35.cn or send email to liufl@lc35.cn.